Accounting is a critical function in every kind of business, especially since it impacts everything from financial health to future decisions. But just like any other professional partnership, the relationship between you as an owner and your accountant requires a deep understanding of one’s needs and capabilities.
Think of accounting services like a staircase — every step takes you closer to complex stages in your accounting needs, going from basic services to a more dynamic client-accountant agreement. Seeing as you need to rely on your accountant to handle your finances in more ways than one, it’s only right to question whether you’re working with the right accountant or if you should flourish better by seeking accounting services elsewhere.
Red Flags that Indicate You Need to Switch Accountants ASAP
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Your Accountant Lacks Communication
Clear and mutual communication is key to achieving a healthy relationship. When it comes to critical topics like your financial status, it’s important to work with a professional accountant who can always keep you in the loop.
If your accountant fails to respond to your questions (emails or phone calls) and always seems too busy to address your calls, then it’s time to drop them and look for a different accountant who can guarantee better customer service to you.
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Your Accountant Confuses You More than Simplify Statements
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Your accountant should clear any confusing financial matters and explain complex topics in easy-to-understand ways. Bombarding you with information that only muddles your comprehension does the opposite of having an expert as your guide. You need an accountant who is clear and concise.
Not only should your accountant handle your finances, but they should also help you have a deeper insight into the ins and outs of the accounting needs of your small business. If you don’t understand taxes, bookkeeping, annual financial statements, and other aspects of your business, then you’d have a harder time realising what areas you need to improve for your financial health.
Remember one important thing – you don’t know what you don’t know!!!
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Your Accountant Offers Bare Bones Services and Does Not Use Cloud Accounting
The best accountants are modern, progressive and up-to-date with the latest technologies that can enhance their services. An accountant who is opposed to using digital solutions like cloud accounting software is lagging behind the fast-moving industry and quite frankly should take the opportunity to retire.
Working with an accountant who doesn’t want to keep up with the changes means your business will also lose the race. Sticking to traditional methods leaves you with a less-than-efficient system. Additionally, it’s time to move forward with a better accountant if they only deliver the bare minimum when it comes to the services they offer. Seeing your accountant once a year is nowhere near enough.
At MKS group we are a firm believer of cloud accounting. We are certified Xero accountants and Xero Platinum Partners, based in Melbourne. Being a fully Cloud-Based business, and using Xero software, this allows us to service clients anywhere in Australia. Knowing your numbers is key to improving business performance. What if you could access your numbers in real time, any time, any place, and on any device? Can it also be beautiful to look at? This is all possible with Xero accounting software. Call the team to find out more about cloud and Xero accounting.
And just another thing to remember, you need to Know Your Numbers To Grow Your Business.
The Bottom Line: The Importance of Working with the Right Accountant Who Meets Your Needs
The relationship you have with your accountant can make or mar your finances in various ways; that’s why it’s essential to engage an accountant who can take the extra mile to boost your financial health. Someone who understands your industry’s needs, uses the latest technology, and is up-to-date with the ever-changing tax laws and other related regulations ensures your business can continue to grow.
How Can We Help You?
Running a business is often a balancing act, but we can help stabilize your strategy by offering financial mentoring services aimed to grow your small business. Have you ever had someone to keep you Accountable? If not, you don’t know what you are missing out on. Get in touch with us at MKS Group for all your mentoring, bookkeeping and accounting needs. 9374 8400
We understand that keeping tabs on your finances and taxes can be overwhelming, so check out our services and learn more about how we can help you today!
